The Benefits of a Family Floater Health Insurance Plan

At the time of buying a health insurance plan,  people come across the concept of family floater medical insurance plan. This article will be your guideline about how a floater health insurance plan works and how it is beneficial for you. It will help you to make better insurance decisions for yourself and your family.

In an individual medical insurance plan, every individual is provided coverage for the specific limit of his/her insurance plan coverage limitation. On the other hand,  a family floater medical insurance plan covers each person to the limit of the total coverage in a single master plan that is applicable for an entire family. A family health insurance premium is economical. Basically, it offers every family member the advantage of exhausting the entire sum assured as the master plan in case there is any need.

The family floater medical insurance plan is a great plan because every family member gets a larger insurance cover. The chances are lower that anyone in the family would get hospitalized in a single year. It is because not everyone will have a health issue at the same time. In a rare case scenario, this might also happen.

Benefits of a Family Floater Health Insurance Plan

  1. Better Coverage for the Individuals-As every family member can use the benefits of a family cover, every member gets a higher coverage by paying the same premium.
  2. Better Coverage for the Senior Citizens-There can be times when the individual medical insurance plans for senior citizens can create a technical issue because of cut-off renewals above a specific age. But, when they are a part of a family floater medical insurance plan, there isn’t any problem as such.
  3. Economical-Generally, the premium for a family floater medical insurance policy is lower than the total premium of individual health insurance policies. Buying a family floater health insurance plan doesn’t make a hole in your pocket.
  4. Easily Manageable- Buying different health insurance plans for the different family members means remembering multiple renewals dates that start and end at the different times. Buying a family floater medical insurance policy saves you from all this pain as it is a single plan that comes with one renewal date. This is easier to manage.
  5. Easy to Add New Members-Instead of purchasing a fresh medical insurance policy when there is a new addition to your family such as wife or baby, then it is very easy to add that member to a family floater medical insurance policy.
  6. The plan Continues if a Family Member Dies- If a senior family member who is included in your family floater health insurance policy dies, the policy continues with all its benefits.

A family floater medical insurance plan offers a great value for money. It is a good choice for buying a health insurance plan for your family. It secures you financially by offering you a combined health insurance package that is very economical.

What is the importance of Family Planning in India?

In India, the moment a couple is married, there is a constant pressure on them to have kids. Some couples give in to the pressure, some take their time to start a beautiful chapter of their life. There are some couples who don’t think much about themselves, but they are worried about what others think of them. Because of this, they want to have kids as they don’t want anybody to think that they are impotent.

They don’t realize that family planning is very important. Given the rate of inflation, it becomes such a difficult task to raise kids. Family planning is defined as expanding the size of a family according to a limit regarding the income and the size of a family. Family planning ensures that health of the mother and the baby is not compromised and the baby can be raised comfortably without any financial burdens. In order be financially secure buy family health insurance plans and secure the health of your family.

The small size of a family reflects a good standard of living. One should have kids, not by chance, but by the choice. Pregnancy should be a result of planning, instead of an accident. Basically, acceptation of a small family and less number of kids is the driving force of any family planning program.

Why is the Family Planning in India is Important?

Family planning program is good not only for the individuals but also for the society. The importance of family planning in India is mentioned below.

  1. The benefit to the Children

If the population growth is slow, that is a result of family planning program only. This makes it beneficial for the children. A decrease in the birth rate reduces the number of children being born. It reduces the number of kids dependent on the working people. It would create an atmosphere where the children would be better fed, better looked after, better cared for and they will get a better upbringing.

  1. The benefit to the Parents:

The family planning and parents’ health share a direct relationship. When a couple has less number of kids, they can spend the resources on raising the standard of living for their family. Family planning is responsible for the better health of the family and the long, prosperous and happy life of the mother. Not just that, good family planning results in better care and education provided to the kids.

  1. The benefit to the Society:

When the family planning is beneficial for the individual, it becomes beneficial for the society as well. When the good family planning results in an improved living standard of the people, the quality of humans will be improved and the society will become better.

  1. The benefit to the Nation:

The family planning is very important for the welfare of our nation. Eventually, the family planning will result in the development of our country’s economy. As a result of a decrease in the population growth, there will be an increase in the per capita income.

The additional per capita income can become an instrument for the additional saving and it will result in the capital formation.

In a long run, the decrease in the population growth will favorably affect the labor supply and then the hike in the rate of labor supply would be reduced. In that scenario, unemployment will be eradicated.